One of the mysteries of the English language finally explained.
An agreement to maintain the present state of affairs, especially one made between two countries in which a debt owed by one to the other is held in abeyance for a specified period.
- ‘I accordingly approached the Dominions of India and Pakistan to enter into standstill agreement with my State.’
- ‘The extension follows a two-week standstill agreement Genuity signed with its banks in July.’
- ‘Australia is also opposed to any standstill agreement whereby Australia will not be able to change the existing regulatory framework.’
- ‘In that context, the Bank agreeing unconditionally to a standstill agreement was not in the cards.’
- ‘A few months later a standstill agreement with the holders of the company's £6.5 billion debt mountain lapses, meaning the tunnel operator will have to start paying back some of the loan's principal.’
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